On the active side of the mutual fund business, Capital Group's American Fundsregained the lead last month, after four months, with estimated net May active inflows of $2.768 billion, up from $1.388 billion in April. Other big May winners included: Pimco, $1.821 billion (down from $2.195 billion); Lord Abbett, $1.19 billion (up from $1.038 billion); Baird, $1.133 billion (down from $1.898 billion); and PGIM, $1.039 billion (down from $1.24 billion).

On the passive side, Vanguardregained the lead last months, after just a one-month gap, with estimated net May passive inflows of $16.778 billion, up from $6.317 billion in April. Other big May winners included: Fidelity, $7.017 billion (down from $30.98 billion); Charles Schwab, $2.311 billion (up from $1.459 billion); TIAA's Nuveen, $1.215 billion (down from $3.81 billion); and J.P. Morgan Asset Management, $610 million (down from $2.558 billion).

On the flip side, May was a rough month for Invesco's active funds, which suffered estimated net outflows of $2.107 billion, more than any other active fund firm and up from $1.354 billion in April. Other big May sufferers included: Fidelity, $1.179 billion (down from $2.798 billion); Franklin Templeton, $1.179 billion (down from $1.564 billion); AQR, $797 million (down from $1.138 billion); and American Century, $783 million (up from $721 million).

SSgA suffered an estimated $22.774 billion in net passive outflows in May, more than any other passive fund family but down from $7.254 billion in net April inflows. Other big May sufferers included: Invesco, $3.692 billion (down from $3.61 billion in inflows); DWS, $427 million (up from $112 million); ProShares and ProFunds, $353 million (up from $54 million); and Milleis, $280 million (down from $180 million in net inflows).

Industrywide, 720 active fund families (up two from April) suffered a combined $1.939 billion in net May outflows, down from $14.539 billion in April. 321 of those 720 families gained net active inflows in May.

143 passive fund families (down four from April) brought in a combined $96 million in net estimated inflows in May, down froom $65.543 billion in April. 71 of those families gained net passive inflows in May.&nbsp